Morocco Strategic Minerals plans $5 million private placement

Morocco Strategic Minerals Corporation (TSXV: MCC) announced plans for a non-brokered private placement offering of up to 33.3 million units at $0.15 per unit, seeking to raise up to $5 million in gross proceeds.

Each unit consists of one common share and half of one common share purchase warrant. The warrants allow holders to purchase additional common shares at $0.25 per share for 24 months following the offering's completion.

The offering requires approval from the TSX Venture Exchange and other necessary regulatory approvals. Securities issued under the offering will be subject to a four-month and one-day statutory hold period under Canadian securities legislation.

The company stated it may pay finder's fees to arm's length parties for certain subscriptions, though no agent has been retained for the offering.

Morocco Strategic Minerals intends to use net proceeds to fund acquisition and development of mining assets in Morocco, along with general corporate and working capital purposes.

The Montreal-based company describes itself as a Canadian mineral exploration company focused on acquiring, exploring and potentially developing natural resource properties in Canada and Morocco.

The securities have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States without registration or an available exemption, according to the company's statement.

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